SK Innovation Co., South Korea's largest energy company, is undergoing a significant transformation through a merger with its affiliate, SK On, and SK E&S, to become the leading energy company in Asia. This strategic move aims to address financial challenges caused by weak global electric vehicle demand and position the company as a major player in the industry. The merger is set to create a comprehensive energy company with substantial assets and sales value in Asia, paving the way for growth and market leadership. The industry restructuring aligns with global efforts towards achieving net zero emissions, prompting SK Group to diversify its business portfolios and invest in sectors like battery, hydrogen, and ammonia. This positions the merged entity to make long-term investments in the battery sector and stay competitive in the evolving energy landscape. By continuing to invest in hydrogen, EV charging infrastructure, and renewable energy businesses, SK Innovation and SK E&S aim to advance their eco-friendly portfolio and lead the future energy market, showcasing a commitment to sustainability and innovation.